India Furniture Hardware Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.04 Billion |
| Market Size (2029) | USD 6.26 Billion |
| CAGR (2024 - 2029) | 15.49 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Furniture Hardware Market Analysis
The India Furniture Hardware Market size is estimated at USD 3.04 billion in 2024, and is expected to reach USD 6.26 billion by 2029, growing at a CAGR of 15.49% during the forecast period (2024-2029).
The Indian furniture hardware market is witnessing a surge, propelled by rapid urbanization, rising incomes, increasing demand for architectural hardware solutions that blend aesthetics with functionality, and a growing affinity for modular and ready-to-assemble furniture. This market encompasses a spectrum of products, from hinges and handles to screws and drawer slides, all pivotal in furniture manufacturing. The market is further driven by rising demand for renovation projects and customers’ growing awareness and knowledge about interior design. India has recently implemented a series of initiatives to bolster its appeal to foreign investors, positioning itself as a prime investment hub. Notably, India-focused offshore funds have outperformed their counterparts in emerging markets, piquing the interest of global investors.
Colliers' recent report highlights that from 2019 to 2023, foreign inflows dominated institutional investments in India's real estate sector, accounting for 77% and averaging a substantial USD 4 billion annually. Moving into FY 2024, foreign portfolio investments (FPIs) injected a noteworthy USD 41.6 billion into the Indian market.
India Furniture Hardware Market Trends
Increase in Residential Furniture Hardware is Fuelling the Market
With an uptick in construction projects and ongoing renovations, the country is poised to witness a surge in hardware product demand. The demand for wood and wooden furniture in India has surged, especially in metro cities such as Bangalore, Delhi, and Mumbai. Technological innovations and rapid urbanization are fueling a surge in the manufacturing of furniture hardware in India, driven by the trend of beautifying residential and commercial buildings. Rising raw material costs and currency fluctuations pose challenges, but the market finds new opportunities due to a growing emphasis on affordable housing. In India's furniture hardware landscape, the residential segment notably commands the largest market share. The growth in the furniture hardware market is underpinned by a rising demand for renovation projects and a more design-savvy customer base. This heightened demand is not confined to hardware but resonates across the broader construction market.
Wire Baskets Furniture Hardware is Fuelling the Market
Wire baskets are popular in India, particularly in modular and contemporary furniture. These baskets are now standard in furniture like coffee tables, side tables, and storage units, offering both style and convenience. They boast versatility, storing various items, from books and magazines to blankets and electronics, while maintaining an organized and accessible setup. Moreover, these wire baskets infuse furniture with a modern, industrial flair, catering to sleek, functional design fans. Crafted from stainless steel, the Cargo Series boasts a 10-year replacement warranty against rust, a testament to its impeccable plating finish. These products are proudly manufactured at Hettich's Vadodara Plant in India, adhering to rigorous international quality standards.
India Furniture Hardware Industry Overview
The Indian furniture hardware market is fiercely competitive, boasting a multitude of players. This competition is further fueled by the market's diverse product range, which attracts a host of international brands. Key players like Hafele India, Blum India, Ebco, and others actively engage in strategic moves, including product launches, event participation, and expansions, to bolster their market presence and boost revenues.
India Furniture Hardware Market Leaders
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Blum India Pvt. Ltd
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Hettich India Pvt. Ltd
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Hafele India Private Limited
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Ebco Private Limited
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Hepo India Pvt. Ltd
*Disclaimer: Major Players sorted in no particular order
India Furniture Hardware Market News
- March 2024: Blum, an esteemed Austrian furniture fittings manufacturer, unveiled its latest distributor showroom, "Sliker India," in Jodhpur. This move further solidifies Blum India's extensive network, spanning 130 cities and boasting over 425 outlets nationwide.
- May 2023: Ozone Overseas, a prominent player, is bolstering its domestic manufacturing capabilities and eyeing international markets with significant investments in furniture hardware production. In a strategic move, the company secured a substantial INR 250 crore funding from PAG-backed Nuvama Private Equity, further fueling its growth trajectory.
India Furniture Hardware Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Urban Expansion is Fueling Residential Construction, Spurring the Need for Furniture and Architectural Hardware
4.2.2 The Growth of Commercial Spaces like Offices and Hotels Bolsters the Demand for Furniture Hardware
4.3 Market Restraints
4.3.1 The Market's High Sensitivity to Prices is Impacting the Adoption of Premium Hardware Solutions
4.3.2 Ensuring Consistent Quality Across Diverse Products and Suppliers Poses Challenges, Impacting Customer Satisfaction and Brand Loyalty
4.4 Market Opportunities
4.4.1 Collaboration and Strategic Partnerships
4.4.2 Harnessing India's Cost-efficient Manufacturing Prowess to Access Global Markets Promises Lucrative Revenue Streams
4.5 Industry Attractiveness - Porters' Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into the Latest Trends, Recent Developments, and Innovations in the Market
4.7 Insights on Key Strategies (New Product Launches, Collaborations, Expansions, etc.) Adopted by Leading Players in the Market
4.8 Insights on Local Production Versus Import of Furniture Hardware in India
4.9 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Hinges
5.1.2 Runner Systems
5.1.3 Lift Systems
5.1.4 Box Systems
5.1.5 Wire Baskets
5.1.6 Sliding Door Systems
5.1.7 Handles, Pulls, and Knobs
5.1.8 Fasteners (Screw, Bolts, Nuts, etc.)
5.1.9 Other Products
5.2 By End User
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 B2B/Projects (Real Estate Developers, Contractors, Etc.)
5.3.2 B2C/Retail
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Blum India Pvt. Ltd
6.2.2 Hettich India Pvt. Ltd
6.2.3 Hafele India Private Limited
6.2.4 Ebco Private Limited
6.2.5 Hepo India Pvt. Ltd
6.2.6 FGV (Hindware Home Innovation Limited)
6.2.7 Godrej & Boyce Manufacturing Company Limited
6.2.8 Dorset Industries Pvt. Ltd
6.2.9 Ozone Overseas Pvt. Ltd
6.2.10 Salice India Pvt. Ltd
6.2.11 ASSA ABLOY
6.2.12 KAFF
6.2.13 GRASS (an Austrian Manufacturer)
6.2.14 Denz Enterprise
6.2.15 Hexa Wood Pvt. Ltd
6.2.16 Kich Architectural Products Pvt. Ltd*
- *List Not Exhaustive
7. FUTURE MARKET TRENDS
8. DISCLAIMER AND ABOUT US
India Furniture Hardware Industry Segmentation
Furniture hardware comprises the fixings, fittings, and individual components essential for crafting functional and durable furniture pieces. This report will provide a detailed analysis of the Indian furniture hardware market. The report delves into the market dynamics, highlights emerging trends in segment and regional markets, and offers insights into different product and application categories. It also analyses the key players and the competitive landscape.
India’s furniture hardware market is segmented by product type, which includes hinges, runner systems, lift systems, box systems, wire baskets, sliding door systems, handles, pulls, knobs, fasteners (screws, bolts, nuts, etc.), and others), by end user, including residential and commercial, by distribution channel including B2B/projects (real estate developers, contractors, etc.,) and B2C/retail. The report offers market size and forecasts for the Indian furniture hardware market in terms of revenue (USD) for all the above segments.
| By Product Type | |
| Hinges | |
| Runner Systems | |
| Lift Systems | |
| Box Systems | |
| Wire Baskets | |
| Sliding Door Systems | |
| Handles, Pulls, and Knobs | |
| Fasteners (Screw, Bolts, Nuts, etc.) | |
| Other Products |
| By End User | |
| Residential | |
| Commercial |
| By Distribution Channel | |
| B2B/Projects (Real Estate Developers, Contractors, Etc.) | |
| B2C/Retail |
India Furniture Hardware Market Research FAQs
How big is the India Furniture Hardware Market?
The India Furniture Hardware Market size is expected to reach USD 3.04 billion in 2024 and grow at a CAGR of 15.49% to reach USD 6.26 billion by 2029.
What is the current India Furniture Hardware Market size?
In 2024, the India Furniture Hardware Market size is expected to reach USD 3.04 billion.
Who are the key players in India Furniture Hardware Market?
Blum India Pvt. Ltd, Hettich India Pvt. Ltd, Hafele India Private Limited, Ebco Private Limited and Hepo India Pvt. Ltd are the major companies operating in the India Furniture Hardware Market.
What years does this India Furniture Hardware Market cover, and what was the market size in 2023?
In 2023, the India Furniture Hardware Market size was estimated at USD 2.57 billion. The report covers the India Furniture Hardware Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Furniture Hardware Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Furniture Hardware Industry Report
Statistics for the 2024 India Furniture Hardware market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Furniture Hardware analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
